| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| Conductr Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| Conductr Ltd |
| Conductr Ltd (Registered number: 13844086) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Conductr Ltd |
| Company Information |
| for the Year Ended 31 March 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Curo House |
| Greenbox |
| Westonhall Road |
| Bromsgrove |
| Worcestershire |
| B60 4AL |
| Conductr Ltd (Registered number: 13844086) |
| Balance Sheet |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Conductr Ltd (Registered number: 13844086) |
| Balance Sheet - continued |
| 31 March 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Conductr Ltd (Registered number: 13844086) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| Conductr Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The financial statements are rounded to the nearest £1. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Critical accounting judgements and key sources of estimation uncertainty |
| The preparation of financial statements requires management to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
| The judgements, estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods. |
| The judgements, estimates and assumptions that management has made in the process of applying the entities accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows; - |
| Work in Progress - The directors have considerable knowledge and experience which is used in evaluating the progress and value of each product. The directors will make an assessment with reference to recognised income, costs and profits or losses on individual projects. |
| In this financial year directors have incorporated an estimation of direct labour element to work in progress, which was not done in previous accounting periods which does constitute a change in accounting estimate. |
| Provisions - The company makes a provision for estimated warranty costs in respect of products sold. This provision is based on management’s best estimate of the future costs expected to be incurred. The actual outcome may differ from these estimates, and adjustments are made to the provision as required. |
| Conductr Ltd (Registered number: 13844086) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Turnover |
| The amount of turnover is the invoiced value of goods and services supplied to customers, excluding value added tax, arising from the principal activity of the company. Turnover is recognised when the risks and rewards of ownership are deemed to have been transferred, with income being accrued for services provided in the year but not invoiced yet. |
| Turnover is recognised as follows: |
| Sale of goods - Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have been transferred to the customer, which is generally on delivery. |
| Consultancy fees - Revenue from consultancy services is recognised as services are delivered. Fees are typically invoiced at agreed project milestones (for example, 50% or 100% stages), with income accrued for work performed but not yet invoiced at the reporting date. |
| Licensing fees - Revenue from licence agreements is recognised over the period to which the licence relates, in line with the contractual terms. Licences are typically invoiced monthly or annually in advance. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
| The company assesses at each reporting date whether tangible fixed assets are impaired. |
| Depreciation is charged to the profit and loss account over the estimated useful lives of each part of an item of tangible fixed assets. The estimated useful lives are as follows: |
| Plant & Machinery - 20% on cost |
| Computer equipment - 20% on cost |
| Leasehold improvements - over the duration of the lease |
| Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since last annual reporting date in the pattern by which the company expects to consume an asset's future economic benefits. |
| Included in Plant & Machinery are demonstration assets and the depreciation policy when the asset is bought into use is 5 years straight line. |
| Stocks |
| Work in progress includes costs which relate to revenue which has not yet been recognised. Stocks includes all materials relating to a project where the project has not yet been completed.Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. |
| Work in progress also includes an element of direct labour and consultancy costs that has been incurred on a project or job but has not yet been completed or billed. |
| Conductr Ltd (Registered number: 13844086) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. |
| For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of established cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. |
| Financial assets and liabilities are offset, and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| Taxation |
| Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other comprehensive income. |
| Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years. |
| Deferred tax |
| Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. The following timing differences are not provided for; differences between accumulated depreciation and tax allowances for the cost of a fixed asset if and when all conditions for retaining the tax allowances have been met; and differences relating to investments to the extent that it is not probable that they will reverse in the foreseeable future and the reporting entity is able to control the reversal of the timing difference. Deferred tax is not recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense. |
| Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet. Deferred tax balances are not discounted. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Conductr Ltd (Registered number: 13844086) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Going concern |
| The financial statements have been prepared on the going concern basis on the grounds that the directors believe that there is sufficient funding in place to support the business for the next twelve months from the date of approval of the financial statements. |
| This review has not resulted in a change in the director's belief that the going concern basis is appropriate. |
| Foreign Currencies |
| Transactions in foreign currencies are translated to the Company's functional currency at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are retranslated to the functional currency at the foreign exchange rate ruling at that date. Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction. Foreign exchange differences arising on translation are recognised in the profit and loss account. |
| Debtors |
| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price, including any transaction costs, and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
| Creditors |
| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.od, less any impairment losses for bad and doubtful debts. |
| Provisions |
| A provision is recognised in the balance sheet when the Company has a present legal or constructive obligation as a result of a past event, that can be reliably measured and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects risks specific to the liability. |
| The company makes a provision for estimated warranty costs in respect of products sold. This provision is based on management’s best estimate of the future costs expected to be incurred. The actual outcome may differ from these estimates, and adjustments are made to the provision as required. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Conductr Ltd (Registered number: 13844086) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| to | Plant and | Computer |
| property | machinery | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2024 |
| Additions |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |